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E-Naira, FAQs.


Here are some quick answers to your frequent questions around the eNaira Please click on any of the questions and find answers that speak to your need. If you still need to contact us, please send an email to [email protected] or [email protected] 

0700 822 0000

General questions

eNaira is a Central Bank Digital Currency (CBDC) issued by the Central Bank of Nigeria (CBN) as a legal tender. It is the digital form of the Naira and will be used just like cash.

  • The eNaira wallet is a digital storage for eNaira which is held and managed on a distributed ledger. This means that you don’t need to rely on an intermediary (financial institution) to access funds in your eNaira wallet.
  • Why negative? You could say that you  need an enaira wallet to transact with  enaira.

No, it is not.

  • eNaira is a legal tender recognized by Nigerian law and issued by the Central Bank of Nigeria as opposed to cryptocurrencies which are private digital currencies not backed by Nigerian law and are not legal tender currencies.
  • eNaira is a unit of account, store of value and medium of exchange whereas, cryptocurrencies are not.
  • While your bank is responsible for the money in your bank, the CBN is directly responsible for the eNaira in your eNaira wallet.
  • When you perform a typical online bank transaction, there are intermediaries whereas for eNaira transactions, there are no intermediaries.

The benefits of the eNaira are:

  • Fast, cheap, reliable and available payment channels.
  • It supports Nigeria’s digital economy.
  • It creates room for improved economic activities.
  • It creates opportunities for simplified and easy cross-border payments and trade.
  • It creates an all-inclusive financial system.
  • It allows for improved effectiveness of monetary policies.
  • It promotes ease in tax remittance and collection to support the country’s growth.
  • It allows for ease in targeted social interventions to support Nigerians.
  • The CBN is the only body authorized to issue all forms of Naira including eNaira, according to Section 2 of the CBN Act 2007.
  • The CBN will also be responsible for guiding financial institutions on the technical, regulatory and operational standards for eNaira.
  • No, it will be used alongside cash and will complement cash as a less costly, more efficient, generally accepted, safe, and trusted means of payment.
  • Yes, it is. eNaira is secured with cryptographic techniques against counterfeiting, cloning, and other forms of attack.
  • Yes, your data is secure with eNaira. The eNaira system has been designed to ensure data and user privacy similar to that enjoyed by current online banking users. There are also operational policies and procedures in place to protect users’ identity.
  • Similar to cash, any person or business can access eNaira as long as they have the requirements for onboarding on the eNaira wallet.

Having and funding an eNaira wallet gives you a lot of interesting benefits such as:

  • 99.9% service availability
  • Low charges on transactions
  • Nationwide acceptance
  • No dispensing errors
  • Advanced data privacy and security

As a business/corporate, you enjoy the following benefits when you operate an eNaira wallet:

  • Instant settlement
  • 99.9% service availability and reliability
  • Low charges on transactions
  • No dispensing errors
  • No reconciliation issues

eNaira can be accessed in the following ways:

  • The eNaira wallet available in app stores such as Google Play Store and the Apple App store.
  • Mobile App and Internet Banking.

Getting started

  • The eNaira app (termed “eNaira Speed Wallet (Individual)”) is available for download from either the Google Play Store or Apple Store. Install the app and complete the registration process

You can fund your eNaira wallet by:

  • Direct transfer from your bank account
  • Transfer from another wallet, either individual or merchant
  • Cash payment through an agent or a bank
  • The eNaira app allows you to identify a bank of your choice, connect to your bank accounts and perform transactions
  • The different tiers of the eNaira wallet are:




    Daily limit

    Cumulative limit


    No existing bank account

    NIN verified telephone number




    No existing bank account

    NIN verified telephone number




    Has existing bank account

    BVN + 2 valid means of identification




    Has existing bank account

    Tier 2 requirement + public utility receipt




To create an eNaira wallet as a merchant/corporate, you will be required to follow the following steps:

  • Visit your mobile app store such as Google Play Store or Apple Store to download the
  • Register by providing your Taxpayer Identification Number (TIN) and identify a bank of your choice for validation
  • After your details have been successfully validated by your preferred bank, your bank will create a wallet for you and advise you on further instructions to take

As a merchant/corporate, the following limits/requirements apply to operating an eNaira wallet:



Daily transaction limit (₦)

Daily cumulative balance (₦)

Account holder

BVN, TIN, and bank confirmation

No limit

No limit


Dispute resolution

  • For any disputes concerning failed eNaira transactions, please reach out to the customer support of the bank you selected when registering for eNaira through their available channels and they will be resolved as soon as possible.

    If your complaints are not resolved within 48 hours, please send an email to CBN’s eNaira Customer Support via [email protected]


  • Yes, it is. The eNaira system uses a two-factor authentication system in addition to cryptographic encryption to ensure the safety of your wallet
  • You can reset your password within the App by navigating the settings menu


If the need to escalate any issues concerning the operation of your eNaira wallet or the handling of your funds, please send an email to [email protected] or call 0800myeNaira (080069362472)

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